Why is Crypto a Trusted Payment Method?

Why is Crypto a Trusted Payment Method?

Cryptocurrency is a popular payment method that can now be used to purchase goods and services and thousands of trusted websites around the world.

Some of today’s most popular cryptocurrencies can also now be used when depositing and withdrawing at a growing number of fully licensed online casinos. The question being asked here is, why is crypto a trusted payment method?

Why is crypto a trusted online payment solution?

One of the things that makes cryptocurrency more secure than traditional payment methods such as physical cash (coins, paper money, bank cheques, bankers’ draft etc), credit and debit cards, bank transfers, and e-wallets (aka digital wallets, web wallets, or electronic wallets) is that cryptocurrency is decentralised.

In other words, it is not controlled by any one financial institution or official government body. There is not one single point of failure that hackers or any other unscrupulous third parties can exploit, thanks to the blockchain technology it runs on, which makes networks far more secure.

However, crypto users who buy and sell or use crypto to pay for things must still take the necessary precautions to ensure they don’t leave themselves vulnerable to hackers. These added layers of encryption technology have made cryptocurrencies the preferred payment method for millions of people, especially online casino players at no-KYC (Know Your Customer) casinos.

What is a no KYC casino?

No KYC Casinos are online casinos that don’t require any additional forms of documentation to prove that you are who you say you are. In other words, a no KYC will never contact you and request that you send them proof of ID or proof of address documents.

All you have to do is fill out the simple online registration form (which takes less than a minute to do), and then you can deposit and start playing straight away without any restrictions as soon as your new account has been activated.

At KYC casinos, if you don’t provide them with the documents/information they have requested (which could be at any time), your account will be temporarily frozen until you provide the verification department with the documents. After receiving your information, it can take another two or more days for the casino’s verification department team to complete the verification process.

For millions of players around the world, the entire process is just one big annoyance and far too intrusive, which is why they prefer playing at no KYC casinos that do not request this kind of information.

What kind of cryptocurrencies can I use at today’s best crypto casinos/no KYV casinos?

Many of today’s best crypto casinos accept anywhere from just one cryptocurrency up to twenty or more. The most commonly accepted cryptocurrencies tend to include the following:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • DogeCoin (DOGE)
  • Ripple (XRP)
  • Cardano (ADA)
  • Polkadot (DOT)
  • Tron (TRX)
  • BSC (BNB)
  • Avalanche (AVAX)

Other honourable mentions

You will also find some trusted crypto casinos, such as BC.Game, Fairspin, Wild Coins, and 7bit Casino, to name just a few, may also accept several other major cryptos, such as Solana (SOL), Polygon (MATIC), Cronos (CRO), Fantom (FTM), and Thorchain (RUNE).

Each casino is different in terms of exactly which payment options it accepts. You can find full reviews for today’s best no KYC casinos that currently accept one or more of these trusted cryptos on the official Cryptostec.com website.

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